It is now known to those who follow the issue that Obama’s express model for his (continued) vow to centrally plan a “green economy” is bankrupting Spain, the country he hailed eight times for its vision. And Spain has acknowledged it.

Ratifying this assessment were Obama’s pleas to that country to stop the gusher of public spending for fear of Spain becoming the next Greece and bringing us down ultimately in the process. Never mind that he is pumping the gas here while imploring others to pump the brakes. After all, there’s a “fundamental transformation” to put in place here. Undoing which will, as he knows, be next to impossible, even if crisis causes a lessening of the wealth transfers on occasion.

Then there are the other elements of what he has in plan for you, as detailed in Power Grab: he is not anti-offshore drilling, he is anti-domestic energy production. Immediately upon entering office he sealed off millions of acres from domestic energy production in a breathtaking, well, power grab, even canceling leases already entered.

So that pap in the Oval Office speech last Tuesday about us being in deep water, literally and figuratively, because we are running out of place to find energy onshore and in shallow water was disgraceful.

That he felt compelled to trot out the trope about having only a few percent of the world’s “proven reserves” only further serves to buttress this harsh take: yes, that’s what happens when you make it unlawful for twenty-five years to look for the stuff by imposing moratoria on exploration in almost every place the geologists expect it would be. But as I detail in the book, we also sit atop the world’s largest likely energy resources. But we have placed it nearly all off limits, including the recent power grab of a moratorium on all offshore drilling.